Insider Buying at Parkland Co. (TSE:PKI)

On November 4th, Director Michael Christian Jennings made a significant move by purchasing 4,000 shares of Parkland Co. (TSE:PKI). The shares were acquired at an average price of C$32.02 each, culminating in a total expenditure of C$128,060.00. This insider buy reflects confidence in the company's future prospects.

Stock Performance of Parkland

On the same day as the insider buying, Parkland stock experienced a decline of 2.9%, dropping C$0.97 to a trading price of C$31.99. The trading volume for the day reached 388,405 shares, which is below the average of 526,206 shares. Parkland currently holds a market capitalization of C$5.57 billion. The company's price-to-earnings (PE) ratio stands at 15.11, while the price/earnings to growth (PEG) ratio is at 11.79, indicating moderate growth expectations. Additionally, Parkland's stock has a beta of 1.33, showing a degree of volatility in the market. Over the past 12 months, the shares have reached a low of C$31.88 and a high of C$47.99. Presently, the 50-day moving average is C$35.22, with the 200-day moving average at C$37.62. The company's current ratio is 1.33, quick ratio at 0.73, and debt-to-equity ratio remarkably high at 206.76.

Recent Dividend Announcement

Parkland has also communicated its recent quarterly dividend, which was disbursed on October 15th. Shareholders who were on record as of September 20th received a dividend of $0.35 per share, translating to an annualized dividend of $1.40 and a yield of 4.38%. The ex-dividend date was noted as September 19th. The company maintains a dividend payout ratio of 65.73%, demonstrating a balanced approach to shareholder returns.

Analyst Ratings and Predictions

Several analysts have weighed in on Parkland's stock recently. ATB Capital adjusted its price target downward from C$49.00 to C$46.00 while maintaining an “outperform” rating. Similarly, CIBC lowered its target from C$50.00 to C$48.00 with an “outperform” recommendation. Canaccord Genuity Group also revised its goal to C$45.00 from C$47.00 with a “buy” position. Scotiabank reduced their price target from C$60.00 to C$52.00, sustaining an “outperform” stance. In addition, TD Securities set a new price target of C$53.00, down from C$55.00, while also issuing a “buy” rating. Overall, one analyst has given a hold rating while ten have issued buy ratings, resulting in a consensus rating of “Moderate Buy” alongside an average price target of C$47.38 according to MarketBeat.

About Parkland Corporation

Overview of Parkland

Parkland Corporation operates a network of food and convenience stores across Canada, the United States, and other international markets. The company’s Canadian segment is responsible for managing and supplying a wide array of retail gas stations, electronic vehicle charging stations, frozen food retail outlets, convenience stores, and related fuel distribution services to various customer segments. They transport and distribute fuel via ships, rail, and road while also engaging in low-carbon activities.

Insider, Buying, Shares